Municipalization of Street Railways Joint Debate of the University of Wisconsin
Municipalization of Street Railways Joint Debate of the University of Wisconsin
William Samuel Kies
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As we already have an enormous deficit of over $2, 800, 000. While the courts, as already shown, would in all probability compel the payment of the market value, and while morally it is the only just compensation, still, in order to silence those who — 60-- believe in a confiscation of vested interests, arid who have no re- gard for financial disaster, or the irreparable injury to the city's reputation such a course would bring, let us see what a showing the city could make if it paid, not the ...market value, but the cost of duplication only. Taking the Harlan figures for the three surface lines, and the figures of Bemis for the elevated and minor roads, we obtain $76, 000, 000 as the transfer price. A word as to these estimates: Mr. Bemis nowhere al- lows for the cost of frontage to the surface roads, of itself an im- mense sum, ranging from $25, 000 per mile to $200, 000 for a single block in the down town district. Further, we have ob- tained estimates from numerous engineers in Chicago and else- where, and find Prof.
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